It’s appropriate that country music has always been popular in Ireland because more and more the place feels like a tragic Tammy Wynnette song.
Unparalleled levels of imprudent lending; corrupt banking practices; soaring inflation and rising unemployment; government bank bailouts and an economy dependent on increasing levels of debt to sustain growth. Sound familiar? It would have done to Briton’s in the 1830s.
Without getting too anthropomorphic, markets are a little like pack of hunting dogs; once they’ve identified, killed and eaten the lame Wildebeest at the back of the herd, they'll move on to the next weakest victim. That is what they did during the banking crises of 2007 to 2008, moving across successive institutions before [...]
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